Moonwalk Biosciences raised $70 million in a Series B to advance its adipose-targeted RNAi obesity program, pushing MW101 toward first-in-human studies. The company said MW101 produced weight loss and fat reduction in preclinical models while preserving muscle mass, and it plans to begin IND-enabling work ahead of clinical dosing in late 2027. The financing was led by Alpha Wave Ventures and YK Bioventures, with participation from Eli Lilly among other backers, reflecting continued investor appetite for obesity modalities beyond GLP-1 incretins. Moonwalk’s approach focuses on delivering small interfering RNA directly to adipose tissue to modulate fat biology without reducing food intake. Moonwalk also intends to expand its pipeline of additional tissue-targeted siRNA programs and leverage an AI-enabled discovery platform integrating genetics, epigenomics, and multi-omics, with translational evidence including durable target engagement reported in non-human primate studies.